U.S. federal prosecutors have indicted Michael Newcombe, a prominent executive in the carbon-credit industry, accusing him of participating in a multi-year fraud scheme that allegedly involved stealing millions of dollars by manipulating financial records and deceiving investors. Newcombe is considered one of the pioneers of carbon markets, having held key roles at the World Bank, Climate Change Capital, and Verra. The charges, announced by U.S. Attorney Damian Williams, highlight the potential risks and vulnerabilities within carbon markets, which are integral to global efforts to combat climate change.